- As of press time, Xpeng was up 7.94 percent in Hong Kong, hitting a five-month high, bringing its month-to-date gain to 19 percent.
- The extended-range version of the X9 MVP is set to launch in the fourth quarter, sparking optimism among investors about Xpeng's sales prospects.
Xpeng (NYSE: XPEV) shares surged in Hong Kong trading as the launch timeline for its first hybrid model sparked investor optimism about its sales prospects.
At press time, the electric vehicle (EV) maker was up 7.94 percent to HK$85.65 in Hong Kong, hitting a nearly five-month high.
This brings Xpeng's gains in Hong Kong this month to 19 percent.
Xpeng's X9 MPV (multi-purpose vehicle) extended-range electric vehicle (EREV) version entered China's Ministry of Industry and Information Technology's regulatory filing catalog last week, marking the imminent arrival of the company's first hybrid model.
The X9 EREV is Xpeng's first super hybrid model and will be officially launched in the fourth quarter, the company's chairman and CEO He Xiaopeng said on Weibo shortly after the filing was announced on August 8.
Xpeng has invested more than 1,000 test vehicles in the X9 EREV, with testing lasting more than 800 days, he said.
The Xpeng chairman hinted that the X9 EREV is a global model, stating that its testing has covered 20 countries and 330 cities.
The X9 EREV is slightly longer than the all-electric Xpeng X9 and is equipped with a 1.5-liter engine from Harbin Dongan Auto Engine as a range extender.
Xpeng's goal is to make the X9 EREV a truly reliable large 7-seat family car, Mr. He said.
A photo he shared shows the number 450 printed on the car body, hinting that the model's battery range may be 450 kilometers.
For a 5.3-meter long MPV model like the X9, the EREV variant, which helps eliminate range anxiety, could be more popular.
The currently available X9 is priced between RMB 359,800 ($50,090) and RMB 419,800, making it Xpeng's most expensive model, with a CLTC range of 650 to 740 kilometers.
The MPV delivered 12,698 units from January to July, accounting for 5.43 percent of Xpeng's total deliveries of 233,906 units during the same period, according to data compiled by CnEVPost.
The X9 EREV will be equipped with the Kunpeng Super Electric System, an extended-range system unveiled by Xpeng at a technology event in November 2024.
Vehicles equipped with this system will have a combined range of up to 1,400 kilometers and a battery range of up to 430 kilometers, making it the longest-range extended-range system in the industry, thereby alleviating drivers' range anxiety, the company said at the time.
($1 = RMB 7.1830)
